Tag Archives: Biden

(Bloomberg) — Saudi ministers insisted that oil policy decisions would be taken according to market logic and within the OPEC+ coalition, just as US President Joe Biden wrapped up a landmark trip to the kingdom. Most Read from Bloomberg Biden said late Friday that the Saudis shared his “urgency” to increase oil supply and he expects “further steps in the coming weeks” to that end. Saudi officials stressed any decision to pump more would be made in the framework of OPEC+, which holds… Source link

I’m gonna set myself up here. Big time. In the next few paragraphs, I’m going to make the case for why Joe Biden’s presidency has hit its low point and is going to recover, a bit. Biden haters are going to bombard me with invective, claiming Biden is senile and whatever other trash Fox News has been running lately. Bring it. A steady drumbeat of bad news has forced Biden’s approval rating below 39%, which is three points lower than Donald Trump’s approval rating at the same point in… Source link

Just 18% of Americans say President Biden should run for reelection in 2024, according to the latest Yahoo News/YouGov poll — the lowest number to date. Nearly two-thirds (64%) say he should bow out. And for the first time, more Democrats now say Biden should pass on a second term (41%) than say he should pursue one (35%). The survey of 1,672 U.S. adults, which was conducted from July 8 to July 11, represents perhaps the starkest evidence to date of the president’s deteriorating position… Source link

The Biden administration is reeling from gasoline prices that crested to $5 per gallon in June and are still historically high. So are millions of drivers. But relief may be on the way. During a briefing for reporters on July 12, senior White House officials said a drop in wholesale gas prices suggests retail prices could drop by 50 cents per gallon or so in coming weeks. “We’ve seen the price of oil fall to a range of $100 per barrel, and we have not yet seen gas prices at the pump fall… Source link

After hovering near the $5 mark for a while, the average price of gas could fall to $4 per gallon by mid-August, analysts predict. Gas prices have been retreating from their highs last month for a couple of weeks now. AAA reports the average price per gallon currently stands at $4.75 nationwide, a 16-cent drop from a month ago. Wednesday’s drop of 2.8 cents per gallon was the second largest single-day drop in the last decade. The decline comes on the heels of a Twitter feud between Jeff… Source link

Phoenix Mercury star Brittney Griner sent a handwritten letter to U.S. President Joe Biden on Monday asking for her release from Russia. Her agency released excerpts from the letter to the public: “… as I sit here in a Russian prison, alone with my thoughts and without the protection of my wife, family, friends, Olympic jersey, or any accomplishments, I’m terrified I might be here forever,” Griner wrote. “On the 4th of July, our family normally honors the service of those who fought… Source link

The Biden administration may trim mortgage costs for new and low-income homebuyers in a move to make homebuying more accessible, The Wall Street Journal reports. Industry officials are asking the Federal Housing Administration to cut premiums it charges for loans they insure by $50 to $70 a month per buyer, though some analysts say the federal agency is unlikely to make such deep cuts, the newspaper reports. Biden’s moves to make homebuying more affordable have so far centered on easing… Source link

You might have heard: Joe Biden is shaping up as the next Jimmy Carter. As a Democratic president in the 1970s, Carter had to deal with surging inflation, as Biden does now. Carter also faced an energy crisis, triggered abroad, much as Biden is now trying to tackle soaring gasoline prices caused by Russia’s invasion of Ukraine. Carter famously claimed the nation faced a “crisis in confidence,” which is arguably the case under Biden, too, given that consumer confidence, by some measures,… Source link

President Joe Biden.MANDEL NGAN/AFP via Getty Images There’s a 72% chance the Federal Reserve could cause a recession by 2024, Bloomberg Economics says. In February, the same models forecasted nearly zero chance of a downturn by that time. The latest forecast came after the central bank made its largest interest rate hike since 1994 to combat inflation. The odds that the US economy will fall into a recession by early 2024 have soared to nearly three-in-four in just a few months as the Federal… Source link

Remember the outrage when a handful of U.S. oil refineries closed in 2020? If you don’t, that’s because there wasn’t any outrage. Oil and gasoline prices were blissfully low and the COVID-19 pandemic dominated the news. Hardly anybody noticed. Energy investors certainly did, however, because 2020 was one of the worst years in history for energy producers. Exxon Mobil notched the first loss in its history, a gigantic $22 billion write-off. The five biggest U.S. oil refiners — Marathon… Source link